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Expiries for Nov29 NY cut 1000ET (Source DTCC)

BOND SUMMARY

EGB/Gilt: Markets Reverse Course Following Friday Risk-Off

US 10YR FUTURE TECHS

(Z1)‌‌ Remains Above Last Week’s Lows

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  • Big move lower for short sterling on the open this morning following comments from BOE Governor Bailey said over the weekend that rising energy prices will remain higher for longer and push inflation higher and "That raises for central banks the fear and concern of embedded expectations. That's why we, at the Bank of England have signaled, and this is another signal, that we will have to act. But of course that action comes in our monetary policy meetings."
  • Dec21 contract opening down 8.5 ticks on the day at 99.56 at writing. Rest of the Whites down 10-11 ticks.
  • Similar moves seen across the Reds. Still sizeable moves lower further out the curve.
  • Short sterling pulling Euribor futures lower here from the Reds onwards and to a lesser extent Eurodollar futures.